China Minsheng Banking Corp

China Cinda Asset Management has sent out a request for proposals for a loan of around $5bn to back its bid for the acquisition of Nanyang Commercial Bank, according to sources.

China Universal Leasing is seeking to manage borrowing costs on an offshore Rmb1.5bn ($236m) loan sealed last year by changing the benchmark to the People’s Bank of China rate from CNH Hibor.

Chinese company Minsheng Financial Leasing, which launched a $200m offshore loan in July, has reduced the margin on the deal by 45bp.

Chinese company Minsheng Financial Leasing’s offshore fundraising, which was launched at $200m, has received commitments from more than 10 banks during general syndication. But the final size of the loan is yet to be determined.